2: The Importance of Marketing as a Role in a Downturned Economy

In this episode of Seismic Sessions, hosts Rachael Rowe, RVP at Seismic, and Gemma Livermore, International FS Marketing Lead at Seismic, are joined by Caroline Ericsson, UK Head of Marketing and Communications at ABN AMRO, and Aimée Cole, Head of Marketing at ClearBank, to discuss the importance of marketing in a downturned economy.

This episode focuses on marketing strategies for challenging economic times, how to strike the balance between creativity and regulation in financial services marketing, and the importance of enablement technology for both compliance and innovation.

Show Notes

Key takeaways from the episode:

• Marketing in Economic Fluctuations: When reflecting on personal experiences with marketing during economic ups and downs, it was clear that whilst there are benefits of having larger budgets during good times, there runs a risk of a team growing too quickly and becoming bloated. The need for marketing generalists was emphasised, enabling a team to be able to adapt to do more with less, regardless of the economic climate.
• Technology's Impact on Marketing: Technology, particularly AI and enabling tech, has allowed for hyper-personalisation in marketing and has elevated the CMO role into the boardroom; while technology is powerful, the human element remains crucial in decision-making.
• Investing in Marketing for the Future: The consensus was clear that cutting marketing budgets during downturns is a false economy. Investing in marketing is essential for growth, and companies that continue to invest in marketing are likely to outperform those that don't in the long run.
  
  

Jump into the conversation:

[00:03:32] Marketing in a downturned economy.

[00:04:42] Marketing in economic fluctuations.

[00:09:13] Creativity in marketing landscapes.

[00:12:45] Hybrid working in marketing teams.

[00:16:03] Knowledge sharing in remote work.

[00:19:48] Technology enabling marketing evolution.

[00:24:23] Hyper-personalization in marketing.

[00:28:28] Marketing investment for future growth.

[00:33:27] Marketing as an enablement factor.

[00:34:19] Streamlining in marketing strategies.